How To Be Successful In Forex

f4forex

Active Trader
Oct 8, 2015
231
2
29
40
Agreed, forex trading should be started in your free time not for the sake of earning money but it should be kept as hobby which will help you a lot in learning the pros and cons quite quickly. I guess many successful traders had done it in part time and learnt through their mistakes. Once you get full hands on it, you can quit your jobs too and can rely on forex trading as your primary business.
 

kora_trader

Trader
May 11, 2016
21
0
12
29
Forex Trading Solutions Guide

Forex Trading Solutions
Forex trading solutions are sold in many forms, such as forex classes, books, and ready-made systems.In fact, there are an increasing number of sellers willing to sell you a complete system, with the trading rules completely, partially on not at all revealed.
If the rules of the system are not revealed, the system is called a “black box” system, where you have to rely on the signals the system gives without knowing how they are generated.Constructing a profitable system is not cheap and thus you’ll find many of the systems sold for $3,000+. However, despite the system being profitable in the past, nothing guarantees that any buyer will make any money with it in the future.

Forex Trading Solutions - Strategies
When purchasing a solution for forex trading, one of the first things you have to think about is the strategy that you want the system to use.The major strategies in forex trading have to do with fundamental analysis and technical analysis.With fundamental analysis, you make your own view as to where the markets are headed based on economic and other indicators. Or, you rely on fundamental analysis of a third party. Based on this view, you then make your trading calls.As for technical analysis, you make your trading decisions on historical data (price, volatility etc.) of the forex currency pair. Technical analysis gives you signals whether you should be short or long of the currency pair or stay in the sidelines.Fundamental analysis is much harder to teach of these two because it can place extraordinary weight on appearances and interpretation of situations. To assist in the analysis, many use a variety of econometric tools.Some traders use a mix of the two, with fundamental analysis sometimes overruling the signals given by technical analysis.You can purchase solutions for both of these approaches. There are many technical analysis solutions sold as PC software, books and taught in seminars and classes. As for fundamental analysis, possibilities are to look for good books on the subject or enroll in a mentoring program that teaches you to analyze the fundamental information.

Forex Trading Solutions - Techniques
Once you have a trading strategy in place, learning about trading techniques will show you how to place actual intraday trading calls, how to use market stops and other orders and how to choose the best forex dealer.What techniques you use in placing trades can make a difference in your trading results. This is particularly true for day trading, where slippage (difference between intended trade price and actual price) can easily make otherwise feasible system useless.You can learn techniques from trading books, seminars, and mentoring. In fact, mentoring is probably the best way to learn how to effectively make trades. However, mentoring is also the most expensive of the trading solutions to learn techniques.

Forex Trading Solutions - Systems
Forex trading systems are turnkey forex trading solutions. The system gives signals for the selected currency pairs and the profits and losses are made by following these signals.There are many ways to purchase or subscribe to systems. Some companies offer subscriptions to trading signals via emails based on their system. Others let you buy their software, which is used with selected currency pair’s data to get the trading signals.Some systems are sold with all of the trading rules revealed. Others will be sold as black box systems, where you just get trading signals, but no detailed information what triggers the signals.
thanks, it's very helpful to me
 

Farver58

Newbie
Jul 3, 2016
4
0
1
64
The first thing needed to trade is money. Create a monthly deposit at first.
The second is an understanding of the market. Choose a few pairs and learn them, also read and educate yourself.
Third is to have time to trade the more the better. Be consitant with a daily routine to trade.
Fourth is to be healthy and alert. Sleep and eat right also take breaks if trade for a long period.
Fifth is know your stratagie in and out and follow it closely. Know even more than one well.
Sixth is to have fun and enjoy trading. And stay alive long enough to see the profits come in.
Follow these sixth things the rest will fall in place.
 

ArslanKemal

Trader
Aug 3, 2016
31
1
12
32
it's the eternal question: how to be successful in trading. First of all you should be ready to self-improving and to spend years to feel confident and to get enough experience.
 

treys

Trader
Aug 1, 2016
3
0
6
There is nothing wrong on promoting yourself on this forum in Forex trading. Actually, I think it's nice that you take your time for encouraging others to do the right thing in this business by showing a methodology in which people can have a safer way to invest on this. If a scammer broker may attempt to cheat on you, then you can use a method like yours to improve and avoid to commit a mistake. Thanks a lot!
 

f4forex

Active Trader
Oct 8, 2015
231
2
29
40
it's the eternal question: how to be successful in trading. First of all you should be ready to self-improving and to spend years to feel confident and to get enough experience.

I have noticed some brokers offering social trading too which is gaining much attention due to the reason that it allows senior traders to showcase their skills and on the other hand the junior traders or new traders can learn from experts by following them and can earn money by copying their trades too.
 

ArslanKemal

Trader
Aug 3, 2016
31
1
12
32
I have noticed some brokers offering social trading too which is gaining much attention due to the reason that it allows senior traders to showcase their skills and on the other hand the junior traders or new traders can learn from experts by following them and can earn money by copying their trades too.
yes, I know about such thing. I think it's really good idea. It can be really usefull for beginners and sometimes even for those traders that have experience in trading. Looking for new strategies is good for every trader
 

boo_sl3

Trader
Sep 13, 2016
12
0
6
35
there is no shortcut to get successfull with forex. because forex is high risk, and that's why we could become successfull with forex then we need patience and discipline are high and keep to increase skills that will make us successfull in forex
 

f4forex

Active Trader
Oct 8, 2015
231
2
29
40
Patience and discipline is need in every business however i agree that we never have any shortcut option but still we can learn from the mistakes of other successful traders rather than repetition of such mistakes.
 

Ally

Newbie
Sep 13, 2016
23
0
2
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It is not possible to be successful in Forex trading overnight. This success might take a few days, a few months or a few years. What is beginner’s guide to trade in Forex market?
Step 1: Define Goals & Imply your own trading style: Goal is the destination that you want to reach. Choose your own style that suits your personality. The style is defined as you cannot leave an open position in your trading terminal overnight.
Step 2: Select a broker that sets with your trading style and with appropriate trading platform: It is very important for you to choose a broker with right style of trading and a trading platform.
Step 3: Choose a strategy and be consistent: Before entering into any trade, it is important to choose a strategy and make decision to execute your trades.
Step 4: Choose long term time for analysis on direction and short term to enter & book the profit: There are traders taking wrong positions because of conflicting directions on charts of different time frames.
Step 5: Calculate the expectations and risk: Checking the history and calculating the expectations and risks of profits and losses helps to analyze your performance in long term.
Step 6: Focus and let go the small losses: Consider that trading might deliver some losses. But do not lose your focus and start accepting small losses for successful and meaningful trades.
Step 7: Keep the record: Records are the best learning tool. Print your record and the reasons which help you make and change your decisions. Make your analysis on the records and note some actions related to it.
Conclusions: These steps would help you lead a planned way to trade and become a prompt trader.
 

Alexfx79

Active Trader
Sep 22, 2016
376
20
39
43
Berlin
Nice plan, it sounds good.
Anyway, all newbies have to remember that trading needs more time than they think. It's Step 0: plan when and where will you trade. How much time a day should you dedicate to trading.
 

Hafizmd

Active Trader
Sep 22, 2016
77
5
29
41
Kuala Lumpur
Nice plan, it sounds good.
Anyway, all newbies have to remember that trading needs more time than they think. It's Step 0: plan when and where will you trade. How much time a day should you dedicate to trading.
Nice idea. If I understood it correctly, you are talking about trading with smartphones from some place where you can't concentrate?
I prefer to work in a cabinet and remembering my first months and years of trading, I always needed a place (room, cabinet, any of them) where I can sit alone with computer and dedicate time to trading.
 

Alexfx79

Active Trader
Sep 22, 2016
376
20
39
43
Berlin
Nice idea. If I understood it correctly, you are talking about trading with smartphones from some place where you can't concentrate?
I prefer to work in a cabinet and remembering my first months and years of trading, I always needed a place (room, cabinet, any of them) where I can sit alone with computer and dedicate time to trading.
As for me, it's better to trade from a computer, that's why one should plan his working hours. But using a smart phone is a certain way to trade any time you need too.
I prefer computer or laptop either. I use mobile MT4 just to check my positions sometimes.
 
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Reactions: Hafizmd

Mohdfx

Active Trader
Sep 22, 2016
53
5
29
28
Kuala Lumpur
Yes I agree the computer is convenient and easier to work with. Since the phone is not in use
I use my phone when I need to go out or check prices when im not at home. It's good to have a platform on a smartphone. but yeah it would be hard to use it all the time :D just imagine constant watching this little screen
 

buldy

Trader
Nov 15, 2016
43
9
9
31
As a newbie one of the terrible mistake we would make is to seek advice from someone who profess to know forex. I remember at the onset of my forex ambition I went to seminars, and all I could get was some CD's and handouts.
My point is; we should learn well and learn right as newbies!
 
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GazFx

Banned
Nov 13, 2012
478
69
74
61
Melbourne, Australia
www.youtube.com
As a newbie one of the terrible mistake we would make is to seek advice from someone who profess to know forex. I remember at the onset of my forex ambition I went to seminars, and all I could get was some CD's and handouts.
My point is; we should learn well and learn right as newbies!
Spot on! If you don't understand it, you simply can't trust it!
 

Gerrard Hank

Trader
Nov 3, 2016
31
2
16
46
Trade only with the trend and market momentum of the spot forex. If you don't know the trends of the market or consistently trade against them it will cause pain and losses. The forex is a massive market and the trends must be respected.
 

Jane Stark

Newbie
Dec 4, 2016
1
0
2
38
Thanks Assaad, It is simple but helpful. These three key terms are the road map of gaining a great achieve! As per the AuthenticFx, the most successful tradings are:

#1: The Bladerunner Trade
#2: Daily Fibonacci Pivot Trade
#3: Bolly Band Bounce Trade
#4: Forex Dual Stochastic Trade
#5: Forex Overlapping Fibonacci Trade
#6: London Hammer Trade
#7: The Bladerunner Reversal
#8: The Pop ‘n’ Stop Trade
#9: The Drop ‘n’ Stop Trade
#10: Trading The Forex Fractal

However, good luck everyone with your trade!
Hey, I read that you pointed out numerous methodologies, and the techniques to be successful. I am using analysis of platform FPMARKETS and its yielding results for me. Don't you think when you have a performing analysis of a platform, then why to do on your own. The best part is that I earn in the end.